Saab US Dealers Asked to Sign by Friday

GM has asked its 220 US based Saab dealers to sign a proposed agreement by Friday, a clear indication that GM's Swedish brand is on the verge of a sale. This will not mean though that all the dealers will survive, but it will open the door for two possible outcomes, Autonews noted. In the event Saab doesn't get sold, most Saab dealers will be closed.

"There's no guarantee all dealers will go forward because the new company might say, 'I see you have 220 dealerships, and we only need x number,'" Steve Shannon, Cadillac, Hummer and Saab executive director of product and marketing told the source. "It says you might continue to be a Saab dealer and adopted by the new owner."

As we told you last week, Swedish luxury sports car manufacturer Koenigsegg has the biggest chance at taking over Saab. At the time, sources even indicated that a deal between the two companies has been reached. "I think that during this week, chances are good. It could be anytime now," Gunilla Gustavs, Saab spokeswoman said.

"We think it is possible and we have several good solutions to bring with us into Saab," Baard Eker, Koenigsegg's co-owner said. "I want to make one thing clear. We are not buying Saab just to chop it up. That's not what we do."

Steve Shannon said that whoever the buyer will be, all bidders have agreed that the Saab dealership network in the US is acceptable, in terms of size at least. "The number of Saab dealerships in the U.S., at least at first glance, seems reasonable," Shannon quoted the investors as saying.